INNOVATE Corp
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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(20) Supplementary Financial Information
- Supplementary Financial Information
Other income, net
The following table provides information relating to Other income, net (in millions):
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Gain on sale of investment | $— | $— | $— | $12.2 |
| Gain on step-up of equity method investment | — | — | — | 3.8 |
| Net gain (loss) on repurchase or extinguishment of debt | 1.9 | — | (0.3) | — |
| Other | 0.3 | 0.4 | 1.5 | 1.2 |
| Total other income, net | $2.2 | $0.4 | $1.2 | $17.2 |
Supplemental Cash Flow Information
The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows (in millions):
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents, beginning of the period | $80.8 | $80.4 |
| Restricted cash included in other current assets | 0.9 | 0.3 |
| Restricted cash included in other assets (non-current) | 0.6 | 1.5 |
| Total cash, cash equivalents and restricted cash, beginning of the period | $82.3 | $82.2 |
| Cash and cash equivalents, end of the period | $51.0 | $55.7 |
| Restricted cash included in other current assets | 0.9 | — |
| Restricted cash included in other assets (non-current) | 0.6 | 1.4 |
| Total cash and cash equivalents and restricted cash, end of the period | $52.5 | $57.1 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $43.9 | $43.6 |
| Cash paid for income taxes, net of refunds | $2.5 | $7.4 |
| Non-cash investing and financing activities: | ||
| Unsecured note issued in connection with purchase of preferred stock and payment of dividends | $— | $35.1 |
| Accrued interest, exit fees and other fees capitalized into principal debt | $5.4 | $2.4 |
| Property, plant and equipment included in accounts payable or accrued expenses | $0.6 | $1.1 |
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